FORT LAUDERDALE, Fla. & CHICAGO--(BUSINESS WIRE)--Convey Health Solutions (“Convey”) today announced an agreement to merge
with HealthScape Advisors, LLC (“HealthScape”) and Pareto Intelligence
LLC (“Pareto”), combining Convey’s market-leading set of compliant,
cost-reducing member enrollment, service, administration, quality and
wellness support solutions with HealthScape’s market leading strategic
consulting capabilities and Pareto’s innovative suite of big data
analytics. The combination of Convey, HealthScape, and Pareto solidifies
the company’s market position as the go-to partner for health plans to
optimize member experience and outcomes, ensure compliance, and drive
enhanced revenue and profitability. The combined company will serve over
200 customers, including many of the nation’s leading commercial and
government-sponsored health plans.

“This merger is transformational for Convey,” said Steve Farrell, CEO of
Convey, “We believe the combination of Convey’s industry-leading,
purpose-built technology platform with HealthScape’s market expertise
and Pareto’s cutting-edge analytics capabilities results in a compelling
platform that will allow us to serve our customers in completely new and
value-added ways.”

“We have always been impressed with Convey from our observations in the
marketplace and could not be more excited to partner with them,” added
Arjun Aggarwal, Managing Partner of HealthScape, “Perhaps as important
as the immense commercial growth opportunity the merger presents is the
complementary culture and shared values between our organizations.”

Creation of a world-class healthcare payor technology and services
platform

Founded in 2009, HealthScape is a healthcare consulting firm widely
recognized as a thought leader and subject matter expert within the
industry. HealthScape is a trusted advisor and partner to the executive
leadership of the nation’s premier health plans and has a reputation for
actionable, data-backed insights. Founded in 2015 by HealthScape’s
founding partners, Pareto has built a market leading big data platform
that enables government-sponsored and commercial health plans to improve
health outcomes, uncover profitability drivers and resolve payment
inaccuracies. Pareto’s advanced data ingestion and normalization
infrastructure allows the company to deploy an advanced suite of big
data analytics to uniquely serve the growing demands of its health plan
clients in an environment of constant regulatory change and a
broad-based shift towards value-based care.

“We partnered with Steve Farrell and the Convey team two years ago to
build a leading technology-enabled healthcare platform,” said Matt Holt,
Managing Director at New Mountain Capital and Board Member of Convey.
“The combination with HealthScape and Pareto represents a landmark step
in this effort, and we are thrilled to be able to support the company as
it continues to grow and deliver unmatched products and services to its
customers.”

The combined company will continue to offer a full range of market
leading solutions to customers including purpose-built government
sponsored plan administration technology, a powerful analytics and
revenue optimization product suite, and best-in-class healthcare
strategy and compliance consulting services. The leadership teams from
Convey, HealthScape, and Pareto will all be staying in place, and the
businesses will continue to provide their current solutions and services
to customers at the highest levels of quality that have been synonymous
with each company’s brand to-date. Both Fort Lauderdale and Chicago will
remain flagship offices for the business going forward.

HealthScape and Pareto were advised by Leerink Partners and legal
counsel was provided by Dinsmore & Shohl LLP and Skadden, Arps, Slate,
Meagher & Flom LLP. Convey and New Mountain Capital were advised by Eir
Partners and legal counsel was provided by Ropes & Gray LLP.

About Convey Health Solutions | Convey Health Solutions is a
specialized healthcare technology and business process outsourcing
services company that is committed to providing clients with
healthcare-specific, compliant member support solutions utilizing
technology, engagement, and analytics. The company’s administrative
solutions for government-sponsored health plans help to optimize member
interactions, ensure compliance, and support end-to-end Medicare
processes. By combining its best-in-class, built-for-purpose technology
platforms with dedicated and flexible business process solutions,
through its centers in Florida, Arizona, Illinois, and the Philippines,
Convey Health Solutions creates better business results and better
healthcare consumer experiences on behalf of business customers and
partners. The company’s clients include some of the nation’s leading
health insurance plans and pharmacy benefit management firms. Their
healthcare-focused teams help several million Americans each year to
navigate the complex Medicare Advantage and Part D landscape. Convey
Health is a proud partner company to New Mountain Capital (www.newmountaincapital.com).
To learn more please visit www.ConveyHealthSolutions.com.

About HealthScape and Pareto | HealthScape Advisors is a
management consulting firm dedicated to serving clients within the
healthcare industry. We provide consulting services to commercial and
government health plans, specialty health organizations, health systems
and providers, and healthcare investors. To learn more, visit our
website at www.healthscape.com.

Pareto Intelligence is an analytics and advisory company that delivers
technology solutions to improve value-based outcomes. These solutions
are supported by proprietary algorithms, predictive models, and advanced
data science that have analyzed over $100 billion in claims and medical
costs, and touched over 14 million healthcare lives. Through this,
Pareto demystifies complex healthcare data and delivers actionable
insights that inspire smart strategic decisions for clients. To learn
more, visit our website at www.paretointel.com.

About New Mountain Capital | New Mountain Capital is a New York
based investment firm that emphasizes business building and growth,
rather than debt, as it pursues long-term capital appreciation. The firm
currently manages private equity, public equity, and credit funds with
over $20 billion in aggregate capital commitments. New Mountain seeks
out what it believes to be the highest quality growth leaders in
carefully selected industry sectors and then works intensively with
management to build the value of these companies. For more information
on New Mountain Capital, please visit www.newmountaincapital.com.